Fennec CEO Settles 13,710 PSUs, Signaling Confidence as Share Price Climbs Past 52‑Week High

CEO Jeffrey Hackman Buys 13,710 Shares Amid a Bullish Outlook

On February 18, 2026, Fennec Pharmaceuticals’ chief executive officer, Jeffrey Hackman, executed a purchase of 13,710 common shares—an action that boosted his post‑transaction ownership to 28,710 shares. The transaction, reported at $0.00 per share because it was a settlement of performance‑share units (PSUs) that had just vested, signals the board’s confidence in the company’s near‑term prospects. While the trade itself was a settlement rather than a cash purchase, it reflects Hackman’s willingness to convert vesting rewards into liquid equity, a move that is often interpreted by investors as a sign of alignment between the CEO’s interests and shareholder value.

Insider Activity in Context: A Quiet Yet Positive Momentum

The current filing comes at a time when Fennec’s share price sits close to its 52‑week high of $9.92 and well above the 50‑day moving average. The stock’s weekly gain of 7.07 % and an impressive 18.81 % monthly return suggest that the market is pricing in optimism around the company’s flagship product, Sodium Thiosulfate. Among insiders, CEO Hackman’s recent buying pattern has been modest: he has purchased shares in May 2025 (13,965 shares at $6.99 and 1,035 shares at $6.75) and settled 50,000‑share PSUs in March 2025. These transactions, combined with the latest 13,710‑share purchase, show a cumulative accumulation of roughly 50,000 shares over the past 12 months, underscoring a steady, confidence‑driven accumulation strategy.

In contrast, the CFO, Robert Andrade, has been the most active insider, executing 15 transactions in the past month alone, primarily buying common shares and selling stock options. While Andrade’s activity is more aggressive, the volume of shares he holds—over 200,000 post‑transaction—suggests a broader strategy to lock in gains and support the share price. The overall insider buying pressure, combined with the company’s positive quarterly guidance, may provide a cushion against short‑term volatility.

Implications for Investors: A Buy‑Signal or a Cautionary Tale?

From an investment perspective, the CEO’s settlement of vested PSUs can be seen as a “buy” endorsement: he is willing to lock in the value of his rewards, implying confidence that the stock will not decline significantly in the near future. However, the lack of a cash outlay means that the trade does not directly impact liquidity or capital structure. Investors should note that Fennec’s price‑to‑earnings ratio is currently negative (-32.51), reflecting the company’s ongoing R&D spend and limited revenue streams. This valuation metric can make the stock sensitive to earnings surprises.

Nonetheless, the combination of insider buying, a positive weekly and monthly return, and a recent product focus on a niche pediatric oncology indication positions Fennec as a potentially attractive long‑term play for biotech‑centric investors. Those considering entry should monitor the company’s upcoming clinical trial milestones and FDA interactions, as these events will likely be the most significant catalysts for stock movement.

Jeffrey Hackman: A Profile of Steady Accumulation

Jeffrey Hackman has been the face of Fennec since 2024, guiding the company through early‑stage development of its flagship compound. His historical transaction pattern—characterized by periodic purchases of common shares and regular settlements of performance‑share units—indicates a disciplined accumulation approach. Over the last year, Hackman has added roughly 50,000 shares, averaging 4,000 shares per month. This steady buying pace contrasts with the more sporadic, large‑block trades seen in other insiders, suggesting a preference for gradual exposure rather than aggressive accumulation.

Hackman’s transactions are typically priced near the market average, with May 2025 purchases at $6.99 and $6.75—well below the current $8.97 closing price—implying that he is acquiring shares at attractive valuations. This pattern aligns with a long‑term investment horizon, where the CEO is positioning himself to benefit from future upside while also signaling confidence to investors and analysts.

Takeaway for Financial Professionals

The recent director‑dealing filing is a subtle but meaningful indicator of confidence from Fennec’s top executive. When coupled with the company’s recent price rally, insider buying momentum, and the strategic focus on a niche therapeutic area, the transaction should be viewed as a positive sign for investors seeking exposure to high‑potential biotech firms. As always, prospective investors should weigh the company’s valuation, clinical pipeline, and regulatory landscape before committing capital.